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'Escape the rat race': The three-bedroom home that costs just $32K

With homes in Sydney and Melbourne continuing to sell at eye-watering amounts, a feeling of frustration lingers for prospective first-time homeowners.

The median price of a home in NSW’s capital sits at $885,000 while the average cost of a home in Victoria’s biggest city is $685,000 – two figures which undoubtedly strike fear into thousands of hopefuls wishing to clamber onto the property ladder.

So for those struggling to scrape together a deposit to simply afford anything with four walls, the idea of being able to purchase a three-bedroom home without a mortgage sounds almost too good to be true.

But it will become a reality for one lucky buyer as a home in Victoria’s sleepy railway town of Serviceton on the South Australia border has hit the market for a remarkably low $32,500.

The Serviceton property with a for sale sign outside.
The property's welcoming exterior doesn't reflect its price tag. Source: RealEstate.com
The Servicton home's living room with red curtains and carpet.
It seems the living room wouldn't need too much work on it. Source: RealEstate.com

And while any city slicker might find it difficult to tackle the eight-hour round trip to Adelaide or the 10-hour round trip to Melbourne for work, the home sat on a quarter-acre plot shouldn’t immediately be dismissed.

A price so low is often reserved for a home which is ready to be bulldozed, however the spacious three-bedroom property with two carport spaces is in a surprisingly respectable condition and could easily be moved into following a bit of low-cost TLC.

“First home buyers, couples or retirees – look here!” agent Malcolm Hautop of Ruralco Property urges in his listing for 8 Railway Street.

“Tidy three bedroom timber frame home set on a large 1,060m2 allotment with loads of potential – Cheap cheap!!”

The Servicton property's spacious backyard lined with trees and bushes.
The property comes with a spacious backyard. Source: RealEstate.com
The home is complete with timber flooring in some rooms (left) while the kitchen is in need of modernising. Source: RealEstate.com
The home is complete with timber flooring in some rooms (left) while the kitchen is in need of modernising. Source: RealEstate.com

It wasn’t long until the home’s listing began doing the rounds online, with many in disbelief over the price.

“Finally a house I can get the deposit together for!” one person said.

“Still less than a deposit on a median priced house in a city!” another wrote.

A Reddit user who shared the listing suggested it could well be a contender for Victoria’s cheapest home.

Others were far more pessimistic, with many questioning how practical living in such a remote location is.

One person asked what do you do in such a town, and while the general consensus was very little, one person responded: “Escape the rat race we're all in.”

Serviceton, with a population of just 120, is 28km east of Adelaide’s Bordertown and 65km west of Victoria’s Nhill – the home of the Australian Pinball Museum.

Its population has more than halved in the last 15 years.

The home is currently under offer.

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